Intellipharmaceutics International Inc. (IPCI)

[fabius]

Holders' filing rules -

It is not my field, just asking for some contributions.


The 13g filed has in this box checked:

"Item 5. Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X] "


It looks like the requirement to file was due to the level of ownership going below 5% (likely due to share price decline);

wasn't from the beginning Armistice required to file when they bought 5% ?

I believe (but I may be wrong) that the window time to file for initial non controlling ownership is 45days since the transaction. Usuually funds take until the last day. If this was the case then shares were bought on the open market and not as a part of the offering.

If instead we assum the purchase was part of the offering, then the other 2 mln shares offered are likely to have been subsribed to someone (isntitution ?) at least aligned with Armistice interests, otherwise wouldn't make much of a sense.

Any ideas?

Just using my almost dead brain battery power allocated to IPCI.